XRP increased its price due to legal developments. SHIB stood out with the increase in its burn rate. BTC is consolidating around $95,000. In the cryptocurrency market, Ripple's XRP approaching $2, Shiba Inu's increasing burn rate, and Bitcoin's consolidation near $96,984 drew attention. While XRP gained value with developments in the legal process, SHIB attracted investor attention with innovations in the ecosystem. Bitcoin was on the agenda with expectations targeting the $100,000 level.
Ripple-backed XRP gained 30% weekly and stabilized at $1.90. The developments in Ripple’s favor in the ongoing lawsuit with the SEC triggered this increase. The decrease in legal uncertainty increased investor confidence, leading to XRP’s market value surpassing Binance’s BNB. Open positions in futures exceeded $2.5 billion. It is also stated that Ripple is waiting for approval for the launch of its RLUSD stablecoin and plans to receive approval from the New York Department of Financial Services. The development of legal results in Ripple’s favor increased the demand for XRP.
“The SEC case is expected to end with the new administration,” said attorney Bill Morgan, indicating that investors’ confidence in XRP has increased.
Shiba Inu, $SHIB
attracted attention with ecosystem developments and increase in burn rate. SHIB gained the attention of major investors and the Shibarium network was functionally strengthened with updates. The increase in burn rate limited the SHIB supply and gave a positive signal for future price increases.
“Shiba Inu’s high burn rate supports its price action,” said attorney Fred Rispoli, emphasizing the increasing interest in the coin. SHIB’s strong performance has led investors to evaluate its Q4 earnings potential.
Bitcoin$BTC
continues to approach historical highs by consolidating above the $95,000 level. Famous investor Robert Kiyosaki predicted that Bitcoin could exceed the $100,000 level. In addition, Vancouver Mayor Ken Sim's suggestion for Bitcoin as a reserve asset also attracted great attention.
Market experts predict that Bitcoin could reach new highs with increasing demand and favorable market conditions. According to CoinGape Media’s analysis, Bitcoin is moving in line with historical trends.
The performance of XRP, SHIB, and BTC this week has attracted the attention of investors and had a significant impact on the market.
